IBAN Services
Multi-currency, multi-jurisdictional accounts for your customers
Get a business EUR IBAN account for your company fast online and forget the inconveniences and bureaucracy of the traditional banks
IBAN
What is an IBAN?
An International Bank Account Number (IBAN) is a globally recognised alphanumeric code that is used to send and receive international payments. Your IBAN number, which consists of 34 letters and numbers, is a standardised combination of your account number and sort code. Additionally, it contains some characters that assist banks in identifying the specific bank and country to which you are sending money.
This information assists in the automatic processing of international transfers, making them faster, easier, and more affordable. IBAN numbers are the only account identifiers that are permitted for SEPA payments. To summarise, an IBAN is used to verify the accuracy of the transaction details entered. This reduces financial transaction errors associated with international and domestic payments processing.
Why Openup?
Avoid the hassle and risks associated with international payments. Enjoy a universal payment platform and benefit from proven currency market expertise.
A critical component of transferring and processing currency exchange transactions and sending money domestically and internationally — IBANs are used to identify both the specific bank and the recipient's bank account number.
We have extensive experience developing customised payment validation solutions for a variety of industries. We specialised in streamlining bank payments for our corporate customers due to the rapid development of the European Union's payment schemes.
We developed a centralised system for validating IBAN data as the International Bank Account Number (IBAN) became the leading format for bank account identification.
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